Option Millionaires

[uranium-pinto-beans]

Reddit initiated with a Buy at Citi
Citi initiated coverage of Reddit with a Buy rating and $53 price target. With engagement trends improving, monetization ramping and EBITDA margins expanding, Reddit is well positioned to continue growing its share of users time and advertiser budgets, the analyst tells investors in a research note. The firm acknowledges the potential risks around some of Reddit's content and notes it remains earlier-on in its ads monetization journey. However, Citi also believes that is the opportunity as Reddit expands its advertiser base and launches newer ad units around shopping, video, and search. The company's deep data corpus creates lasting data licensing opportunities, adds the firm.